LLC are not always the safety net they lead folks to believe. I was interested in buying a small mom n pop type gunshop / manufacturer that specialized in trade rifles, the owner and I came up with agreeable numbers. I consulted with an attorney friend and contacted an attorney in regards to the start up of the business. To keep cost down I was going skimp on insurance and the business license, only until things got up and going. As the principal or president of the LLC, if you willingly avoid such costly things and something happens, you can and will be held liable as an individual, with the potential of losing personal assets.
In Illinois, muzzleloaders are considered firearms. So, the paperwork became somewhat more prohibitive with an FFL and a manufacturing license being requirements. I took the attorney's advice and walked away from it.